Commerce State Bank

Banking on a Partnership

In the fall of 2003, Joe Fazio, Tom Hopp and David Borchardt, three Wisconsin natives, started planning and setting up their dream business – Commerce State Bank. They set out on a mission to establish a bank with a focus on three critical areas: serving the needs of small and medium sized businesses, providing home equity and mortgage loans and delivering unbeatable deposit rates. Additionally, they would provide all of the other services of a full-service financial institution. On August 31, 2005, Commerce State Bank opened.

From its first location in a small strip mall on Highway 33 in West Bend, Commerce State Bank has grown to four branch locations and $400 million in assets, with plans for significant growth over the next few years.

Commerce State Bank’s present commercial banking success and vision for the future is fueled by keeping a concise focus on its target market of small and midsize businesses. Their sweet spot for commercial banking is loans of $500,000 to $5 million to clients with an annual revenue between $1 million and $20 million. While Commerce State Bank has the majority of its brick and mortar presence in Southeastern Wisconsin, they have been very successful in drawing business from all over the state.

Almost 10 years ago, Commerce State Bank partnered with iStream to provide Commerce’s Commercial Customers with a Remote Deposit Capture Solution. Remote Deposit Capture became a reality in October 2004 and has truly revolutionized the manner in which deposits come into a financial institution. RDC meets the needs of Commerce State Bank’s commercial customers by removing a physical limitation in terms of proximity to a branch location for deposits. Joe Fazio, Commerce State Bank CEO, chairman and co-founder said “iStream has allowed us to recruit commercial clients from areas outside of our branch location footprint, giving customers from all over the state an opportunity to experience first-hand the unparalleled service that Commerce State Bank has to offer. The product truly is a snap to install and learn to use. Our customers love the technology and its ease of use. We love the fact that iStream does all the work and support.”

The iStream approach to Remote Deposit Capture has always had a focus on the end-user. Delivering a solution that delivers high utility, efficiencies and an intuitive interface has been a catalyst driving the success of iStream over the years. iStream partners with Financial Institutions to allow them to offer a best-in-class solution to their customers. “Without partners like Commerce State Bank, iStream would not be in the favorable position it finds itself in today,” said Fred Joachim, iStream Financial Services president. “The portfolio of RDC customers that Commerce State Bank has cultivated over the years is a testament to both organizations. The two organizations compliment one another and serve a common goal in delivering efficiencies to clients of all size and scope” said Joachim.

Our customers love the technology and its ease of use.Joe Fazio, Commerce State Bank CEO, chairman and co-founder